Wytheville Comfort Suites Sells for $3.6 Million
WYTHEVILLE, VA, September 23, 2021 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Comfort Suites Wytheville, a 56-room hospitality property located in Wytheville, Virginia, according to Benjamin Yelm, regional manager of the firm’s Charlotte Uptown office. The asset sold for $3,630,000.
“Having prior transactional experience in the market, we were confident in the price point we went to market and were able to transact at 98% of the ask price,” says Chase Dewese, senior associate.
Dewese, in addition to Joce Messinger, Josh Williams and Milin Mehta had the exclusive listing to market the property on behalf of the seller. The buyer was also secured by the team. Brian Hosey assisted in closing the transaction as the Virginia broker of record.
Comfort Suites Wytheville is located at 695 Peppers Ferry Rd in Wytheville, Virginia. The hotel was constructed in 2006 and features 56 guest rooms, an indoor pool, fitness center and business center. Its location is easily accessible from Interstate 81 and Interstate 77 and is less than a mile from the Wytheville Meeting Center and Wytheville Community College.
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About Marcus & Millichap (NYSE: MMI)
With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 8,954 transactions in 2020 with a value of approximately $43 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.